[ad_1]
European equities ended down on Tuesday, weighed down by trade concerns, because of the strength of German data and China's intervention to stabilize its currency.
After rising for most of the session and rising 0.7%, the Stoxx 600 European equities index closed down 0.5% to continue the decline due to trade in the third session.
The brief recovery, which followed a two-day sale backed by the Chinese central bank, set the yuan on a slightly stronger level on Tuesday, easing fears that Beijing will use its currency as a new front in its trade war with the US. United.
Investors fear that the US-China trade war will only turn into a monetary battle when US President Donald Trump threatened to impose a 300% tariff on Chinese imports.
The UK FTSE 100 miners index and commodity-driven companies, which are heavily exposed to Chinese demand, fell 0.7% and hit its lowest level in two months.
The German DAX erased its gain of 1% to approach 0.8%.
The sentiment was also boosted Tuesday by German data that industrial orders exceeded expectations. The industrial sector was among the best performing before the market fell.
As for companies, Metro recorded the worst performance of the main index, recording a drop of 8.1% after the Czech investment company Daniel Kretinsky announced that it would not increase its offer of 5.8 billion euros to buy the German retailer.
The British manufacturer of aircraft engines, Rolls-Royce, was second on the list of big losers, down 6.9% as the company increased its cost estimates.
Vivendi has announced that it could sell 10% of Universal Music's capital to the Chinese technology group Tencent, while the Rotork industrial group, topping the Stoxx 600 rankings, has achieved solid results in the first half .
(Reuters)
Source link
